INVESTMENT


PRIVATE NEW CAPITAL EXPENDITURE

Between the December quarter 2009 and March quarter 2010, the South Australian chain volume (trend) estimate of private new capital expenditure rose by 0.2% to $1,284m. Expenditure on Equipment, plant and machinery rose $35m to $791m (an increase of 4.6%), whilst expenditure on Buildings and structures fell $32m (6.1%) to $495m.

Over the same period, private new capital expenditure for Australia rose $528m (1.9%) to $27,753m. Expenditure on Equipment, plant and machinery rose 2.4%, whilst expenditure on Buildings and structures rose 0.6%.

MINERAL AND PETROLEUM EXPLORATION EXPENDITURE

The value of South Australian mineral exploration expenditure (in original terms) was $33.7m in the March quarter 2010; a decrease of 8.9% over the previous quarter and 64.6% below the peak recorded in the June quarter 2008 ($95.2m). Australian expenditure on mineral exploration was $459.3m in the March quarter 2010; a decrease of 20.6% from the December quarter 2009 estimate ($578.8m).

Exploration expenditure on Copper ($17.1m) accounted for a little over half (50.7%) of all South Australian mineral exploration expenditure in the March quarter 2010. A further $9.9m was spent on exploration for Uranium ($5.2m) and Iron ore ($4.7m).

Expenditure on petroleum exploration in South Australia in the March quarter 2010 fell to a new low of $13.7m, down 51.2% from the previous quarter. In contrast, expenditure on petroleum exploration nationally increased by 4.4% from $827.0m to $863.5m over the same period.